News Releases

Baker Botts Represents Southern Power in Sale of Nacogdoches Generating Facility to Austin Energy for $460 million

Release

Deal Description: April 19, 2019 - Southern Power, a leading U.S. wholesale energy provider and subsidiary of Southern Company, announced late Thursday that it has entered into an agreement to sell the Nacogdoches Generating Facility to Austin Energy for $460 million.

The 115-megawatt (MW) plant serves electricity needs in Austin, Texas under a long-term power purchase agreement with Austin Energy.  The $460 million purchase price is subject to customary closing adjustments.  The transaction is expected to close in mid-2019, subject to customary closing conditions.

Baker Botts was Southern Power’s primary outside counsel in this transaction.

Target: Southern Power to sell the Nacogdoches Generating Facility to Austin Energy

Outside Counsel to Southern Power: Baker Botts L.L.P.

Financial Advisors to Southern Power: Barclays

Other Parties: Austin Energy

Outside Counsel to Austin Energy: Husch Blackwell LLP

Financial Advisors to Austin Energy: JPMorgan

Value: US $460 Million

Baker Botts Lawyers/Office Involved:

Corporate: Bill Lamb (Partner, New York); Jonathan Bobinger (Partner, Houston); Susan Toumanian (Associate, Washington, D.C.); Allison Lancaster (Associate, Austin); Brian Garrott (Associate, Austin); Grace Matthews (Associate, Austin)

Employee Benefits: Chris Pratt (Special Counsel, Houston)

Tax: Don Lonczak (Partner, Washington, D.C.)

Real Estate: Joel Overton (Special Counsel, Dallas)

Environmental: Aileen Hooks (Partner, Austin)

Global Projects: Elaine Walsh (Partner, Washington, D.C.)

Finance: Robert Wann (Partner, New York); Martin Toulouse (Partner, New York)

 

ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 14 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.

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